Oil News

Crude Oil is trading at $72.45 as of 9:47am, London Time. Crude’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the Commodity.

Crude Oil drops to $72 a barrel as traders predict high inventories

Crude Oil is trading at $72.45 as of 9:47am, London Time. Crude’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the Commodity.

Oil extended losses below $72 on Wednesday after sliding 3 percent from its highest since last October a day ago, hit by industry figures showing a hefty rise in U.S. crude stocks and overshadowing upbeat economic data. “A lot of people are expecting a build in crude stocks because last week’s draw was large,” said Tony Nunan, risk manager at Tokyo-based Mitsubishi Corp. Crude Oil is trading at $72.45 as of 9:47am, London Time. Crude’s Pool-Position is 46% Long, meaning that most Finotec clients are Selling the Commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More